Sentences with phrase «used as the debtor»

Not exact matches

Using the conventional total debt - to - income ratio, where debt is measured as a share of income, college - educated student debtors are by far the most indebted.2 The median college - educated student debtor has total debt equal to about two years» worth of household income (205 %).

Chapter 11, known as «reorganization,» is used by businesses and a few individual debtors whose debts are very large.

The Bankruptcy Code describes the exempt homestead as property «uses as a residence,» which can include the home that the bankruptcy debtor owns even if the debtor is not currently living there.

There's chapter 11, which businesses and wealthy folks use to reorganize debts and stay afloat, and there's chapter 13, which lets the debtor keep their property as they repay what they owe, not to mention other chapters for fishermen and foreign debts.

If a debtor has sufficient income to pay necessary household expenses, and still have money left over, Section 707 (b) of the Bankruptcy Code could be used to have the case dismissed as «abusive.»

As mentioned previously, this type of loan requires debtors to use their home as collateraAs mentioned previously, this type of loan requires debtors to use their home as collateraas collateral.

The creditor may either continue the collection process using third party debt collectors, sell the account to a third party debt buyer, or (if the debt is greater than $ 600) file a Form 1099 with the IRS, reporting the debt as a «forgiven» debt (which is taxable as miscellaneous income to the debtor) and may even use a combination of these actions.

Debt settlement is a process used by both creditors as well as the debtor to negotiate a resolution of existing money owed by law in order to avoid bankruptcy and the additional adverse effects on the debtor's credit rating it can bring.

(A) real or personal property that the debtor or a dependent of the debtor uses as a residence; (B) a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence; (C) a burial plot for the debtor or a dependent of the debtor; or (D) real or personal property that the debtor or dependent of the debtor claims as a homestead.

Using the conventional total debt - to - income ratio, where debt is measured as a share of income, college - educated student debtors are by far the most indebted.2 The median college - educated student debtor has total debt equal to about two years» worth of household income (205 %).

Being gouged in these legal but despicable ways has made me deeply interested as an attorney in helping other student debtors to use the legal system to get out from under their frequently oppressive and life - sapping student loan debt.

Most courts around the country use a three - prong test to determine if a debtor has established «undue hardship,» known as the Brunner test after Brunner v. N.Y. State Higher Educ.

The Front DSCs offer to act as intermediaries between distressed and distraught debtors and their creditors, using inflated claims and misrepresentations about their services to sign up customers, and charging exorbitant and abusive fees once the mark is on the hook.

So in the example I wrote about in a hypothetical chapter 7 case, above, in the same case, but using chapter 13 as the vehicle to obtain a bankruptcy discharge, the chapter 13 debtor will need to pay $ 7500 over the lifetime of the chapter 13 plan in order to pay all unsecured debt and obtain a discharge.

Another way that borrowers can reestablish their credit is by using a secured credit card, which works as follows: A debtor supplies the funds up front by placing a specific amount of money in an account.

However, it remains to be seen how the Execution Court will treat the DIFC judgment if the judgment debtor raises an argument that the DIFC Court has been used as a conduit to enforce a foreign judgment in Dubai without having had to go through the Dubai Courts.

up private litigation where it promotes the use of legal machinery to oppress: as, for example, to so discord in a family; [Footnote 20] to expose infirmities in land titles, as by hunting up claims of adverse possession; [Footnote 21] to harass large companies through a multiplicity of small claims; [Footnote 22] or to oppress debtors as by seeking out unsatisfied judgments.

As that relates to fraud as generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeAs that relates to fraud as generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeas generally not know - as a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deeas a principle one uses to extend statute of limitations — in other words, debtor can't use that because he knew of the forge quit claim deed.

Consequently, in the absence of express judicial authority, until the location of the debtor rules are harmonized, it can be expected that the secured parties will adopt the counsel of caution and search and file in the location of the debtor as determined using both the new Ontario location of the debtor rules and the current location of the debtor rules of the other common law provinces.

As part of my research regarding nonprofits» use of reorganization to deal with financial distress, over the last year, I've spoken with 76 attorneys who represented religious organization debtors in their Chapter 11 cases.

The (primary) interesting consequence — from a vendor's standpoint — of having an obligation classified as an obligation of means is that the debtor will be deemed to have duly and fully performed its obligation as long as it can show that it acted prudently and diligently and used all reasonable means so as to endeavour to achieve the intended result, regardless of whether or not the result was actually achieved after all.

Obligations of means only require a debtor to act prudently and diligently and to use all reasonable means so as to endeavour to achieve a certain result.

The few cases identified in Quebec and touching upon this concept generally took the view that this concept could be seen as requiring the debtor of an obligation of means to use somewhat greater efforts than is generally required at law, but without going so far as requiring it to use «unreasonable» means in doing so.

Those serving demands without the benefit of a judgment should also bear in mind that the courts have taken a dim view of creditors who use the process merely as a threat to the debtor with no intention of following the matter through to the bankruptcy stage.

Our firm has experience in attacking fraudulent conveyance and preferences, including by using Ontario legislation such as the Assignments and Preferences Act, R.S.O. 1990, c. A. 33; the Fraudulent Conveyances Act, R.S.O. 1990, c. F. 2; and the Absconding Debtors Act, R.S.O. 1990, c. A. 2.

Financial analysis can be elaborately defined as an assessment on, how effective are the investments or funds engaged by the organisation or business, to check the efficiency of funds used for operations, and lastly to secure debtors and claims against the business's assets.